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Matlock Company uses a perpetual inventory system. Its beginning inventory consists of 60 units that cost $41 each. During June, (1) the company purchased 181
Matlock Company uses a perpetual inventory system. Its beginning inventory consists of 60 units that cost $41 each. During June, (1) the company purchased 181 units at $41 each, (2) returned 7 units for credit, and (3) sold 151 units at $60 each. Journalize the June transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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